Ah, Labor Day, in which the nation’s Labor Force, takes the day off. We’re told the economy is “recovering”; but not why the ranks of unemployedare surging – let alone, the “underemployed” not included in this chart, such as the fast-food workers in 60 cities that went on strike this weekend, seeking a more than doubling of wages to offset the rising cost of living. Not to mention, the fact that due to Obamacare, many restaurants are no longer offering full-time, benefit-paying positions. For those not aware that America has 315 million citizens, the below graph represents 43% of the population; gibing perfectly with the fact that U.S. vehicle miles driven continue to plummet…
In Europe, too, we are told the economy is “recovering” – per a recent “diffusion index” showing manufacturing employment slightly above 50 last month. Of course, the employment component plunged across-the-board, and the continental unemployment rate remained at an ALL-TIME HIGH. Care of non-stop Central bank liquidity and manipulation, this is “supposedly” great for stocks; but not so much the people with no jobs, savings, or hope. And by the way, the odds of a CATACLYSMICmarket crash due to said liquidity and manipulation have NEVER been higher; per the shocking charts below – particularly if the topic of “tapering” continues to be carelessly bandied about, given surging interest rates and the fact the Fed now owns a whopping 32% of ALL U.S. Treasury bonds…
Quite the interesting weekend, as following news that Obama will strong-arm seek Congressional approval to attack Syria; amidst alleged “proof” of an Assad-ordered Sarin attack. Don’t worry, Congress will always do what’s “WORST FOR AMERICA, BUT BEST FOR PRECIOUS METALS”; which is probably why it was just learned that none other than the “Vampire Squid” itself purchased a whopping $450 million of GLD shares in the second quarter alone…
It’s Tuesday morning, and the Rupee is collapsing to a new ALL-TIME LOW, amidst a nearly 4% Indian stock market plunge – as an absolutely moronic government proposal surfaced regarding a misguided hope of purchasing sacred gold relics from Hindu temples – for rupees. Meanwhile, a NATIONWIDE South African gold miner strike commenced today – for 80,000 miners, representing nearly 65% of the entire gold mining industry! And oh yeah, they want wage increases of up to 150% – compared to the measly 6% raises they’ve been offered. In other words, the “PRECIOUS METALS SUPPLY CRUNCH” I have written of is about to get a whole lot worse; particularly in light of the data in Steve St. Angelo’s most recent report – showing how the top 12 primary silver miners reported cumulative 2Q 2013 losses of $545 million dollars.
On the second anniversary of 2011’s “OPERATION PM ANNIHILATION II,” the Cartel attempted a new Sunday night attack – taking gold down $25/oz and silver $0.50/oz in the wee hours of the holiday weekend. But then something strange happened – as gold gained back ALL its losses, and silver rocketed higher. The Cartel is desperately holding the line on $1,400/oz ($1,397/oz as I write), but silver is up $0.75/oz; regaining ALL its Thursday and Friday losses as TPTB – equally desperately - attempted to prevent traders from taking delivery before Friday’s COMEX “First Delivery Day.”
It’s a BIG week coming up – starting with Thursday’s Obama-less G20 meeting in Russia; and potentially, an historic quarter of global political, economic, and social turbulence
